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 Post subject: Re: Bitcoin
PostPosted: Fri Dec 22, 2017 10:26 pm 
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Trading in Bitcoins must be a real adrenaline rush these days!

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 Post subject: Re: Bitcoin
PostPosted: Fri Dec 22, 2017 10:48 pm 
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Thargor wrote:
Thats the 6th POP! (~30% drop) this year and its recovering now, hoping for plenty more in 2018 as it heads for $30k and Ethereum heads for $1k.

Would it be fair to say that Bitcoin is the first true mania of the internet age? I discount the dotcom bubble and bust in this because it was the existing real world markets over estimating the potential of the internet whereas Bitcoin is a creation of the internet ecosystem.

The property bubbles of the noughties were mostly confined to the western economies but Bitcoin has no geographical constraints.

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 Post subject: Re: Bitcoin
PostPosted: Sat Dec 23, 2017 1:28 am 
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There were also various massive over-investments in fiber-optics; some of it STILL isn’t used.

I’d say the first pure-internet mania is the Second Life property bubble and banking/ponzi crisis, tho: http://articles.latimes.com/2008/jan/22 ... condlife22

Bitcoin repeated many of the same mistakes, of course: https://www.wired.com/2013/07/sec-says- ... zi-scheme/

Interestingly, Linden Labs banning banks, gambling, and other dodgy financial stuff more or less ended Second Life’s relevance, and shut down its real money property bubble. I think a lot of people are in bitcoin largely for the poorly regulated financial chicanery; just look at how margin trading in bitcoin works.


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 Post subject: Re: Bitcoin
PostPosted: Sat Dec 23, 2017 2:56 pm 
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Worstpigeon wrote:
There were also various massive over-investments in fiber-optics; some of it STILL isn’t used.

I’d say the first pure-internet mania is the Second Life property bubble and banking/ponzi crisis, tho: http://articles.latimes.com/2008/jan/22 ... condlife22

Bitcoin repeated many of the same mistakes, of course: https://www.wired.com/2013/07/sec-says- ... zi-scheme/

Interestingly, Linden Labs banning banks, gambling, and other dodgy financial stuff more or less ended Second Life’s relevance, and shut down its real money property bubble. I think a lot of people are in bitcoin largely for the poorly regulated financial chicanery; just look at how margin trading in bitcoin works.

Very interesting. Thanks for that, I'm not clued in any way to the wonders of the online world.

Anyway back in the real world have you seen the price of fir trees, they've rocketing. I'm going to buy a load and sell them in another week and pocket the profit! :D

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 Post subject: Re: Bitcoin
PostPosted: Sun Dec 24, 2017 1:43 am 
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I heard hashgraph is the nest big crpytocurrency. It's mooted to be faster and safer than Bitcoin. Any thoughts? Has anyone else heard about it?

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 Post subject: Re: Bitcoin
PostPosted: Sun Dec 24, 2017 2:05 am 
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Terra Incognita wrote:
I heard hashgraph is the nest big crpytocurrency. It's mooted to be faster and safer than Bitcoin. Any thoughts? Has anyone else heard about it?


Never heard of them.
But buy me €500 worth if you're getting any. :D


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 Post subject: Re: Bitcoin
PostPosted: Sun Dec 24, 2017 2:22 am 
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I'm not 100% au fait with all the technology, but I have a lucky feeling and I'm putting all my money on tulip tokens.
https://thetulip.auction/


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 Post subject: Re: Bitcoin
PostPosted: Sun Dec 24, 2017 10:28 am 
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Mike Maloney made a good video explaining Bitcoin and Hashgraph , and how Hashgragh could make the blockchain/Bitcoin obsolete , the video is over 1 hour long but worth watching. Bitcoin can process around 7 transactions per second but Hashgraph could process hundreds of thousands transactions per second and use a tiny amount of energy compared to Bitcoin to verify transactions, so instead of waiting hours for bitcoin transactions to be verified , Hashgraph could verify almost instantly .



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 Post subject: Re: Bitcoin
PostPosted: Sun Dec 24, 2017 4:58 pm 
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The volatility on this is a traders dream.
I tend look upon the price, not necessarily of an indicative valuation, but a graph plotting human psychology.

Fascinating to watch.


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 Post subject: Re: Bitcoin
PostPosted: Tue Dec 26, 2017 3:02 pm 
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catbear wrote:
Anyway back in the real world have you seen the price of fir trees, they've rocketing. I'm going to buy a load and sell them in another week and pocket the profit! :D


I cornered the market in turkeys last week, I was watching them for a while and I spotted an upward trend in demand.

I'm a long term investor so planning on selling in early January. Its never too late to get on the turkey bandwagon !


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 Post subject: Re: Bitcoin
PostPosted: Tue Dec 26, 2017 6:36 pm 
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 Post subject: Re: Bitcoin
PostPosted: Tue Dec 26, 2017 6:37 pm 
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Quote:
Morgan Stanley analyst James Faucette and his team sent a research note to clients a few days ago suggesting that the real value of bitcoin might be ... $0.

That's zero dollars. (Bitcoin stood at around $14,400 at the time of writing.)

The paper (titled "Bitcoin decrypted") did not give a price target for bitcoin.

But in a section titled "Attempts to Value Bitcoin," Faucette described why it is so hard to ascribe value to the cryptocurrency. It's not like a currency, it's not like gold, and it has had difficulty scaling. He concluded:

• Very difficult question to answer, but some points to consider

• Can Bitcoin be valued like a currency? No. There is no interest rate associated with Bitcoin.

• Like digital gold? Maybe. Does not have any intrinsic use like gold has in electronics or jewelry. But investors appear to be ascribing some value to it.

• Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.*

• Bitcoin average daily trading volume of $3bn (last 30 days) vs $5.4 trillion in the FX market.

• Est. <$300mn in daily purchase volume vs. $17bn for Visa.


http://uk.businessinsider.com/morgan-st ... ue-2017-12

But it's the future man.

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 Post subject: Re: Bitcoin
PostPosted: Wed Dec 27, 2017 5:26 pm 
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The blockchain and ethereum and tangle are all very interesting platform innovations for finance and business dealings and IoT. We see ethereum also shoot up as it's going to act as a kind of OS for many apps. Ripple is very exciting for international transactions.

The ease with which one can send money with these cryptocurrencies is really incredible. It really does open up new paradigms in terms of payments and transactions and even handling your own money. I have put some cash into it it and once you have it online nobody can really stop you moving it around almost instantly wherever you want (excepting the fact that bitcoin itself has major issues that have been rectified with other coins).

I know I sound like a typical coin promoter but there is a real change here that is happening. I didn't really get the blockchain thing before but I realise there are very solid business cases for things like quick payment verification , contracts, proof of identity etc. The blockchain could be efficiently put to use in the food industry to track material from raw material to on your stovetop. Also it could be used to manage medical records without any 3rd party being able to read those records. Or the right to read those records could be very selectively granted by the individual themselves and not a given medical institution holding it centrally.
I also like the idea of blockchain for scientific experiments where data is verified at each step making it much more tamper proof. Using a blockchain for compliance it could easily plug in to many different software packages.


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 Post subject: Re: Bitcoin
PostPosted: Sat Dec 30, 2017 12:45 am 
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There's nothing special that I can see about Blockchain that couldn't have been replicated with existing technology. The fact that no-one has decided to do this should tell you something about its real value. There's a Libertarian fantasy that come the overthrow of governments and the apocalypse that follows, the survivors will emerge into the nuclear wasteland to find their high speed broadband connections still work.

As for Bitcoin, my god what an enormous scam. A currency which cannot be tracked by the authorities is unacceptable for reasons of money laundering & terrorist financing - it simply won't be allowed to happen. I had very little interest in this topic until recently, but I'm beginning to be asked semi-serious questions from ordinary people about how they get involved in "investing" in bitcoin.

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 Post subject: Re: Bitcoin
PostPosted: Sat Dec 30, 2017 1:12 am 
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Bitcoin ransom of $1m paid for cryptocurrency boss
https://www.google.ie/search?q=Bitcoin+ransom+of+%241m+paid+for+cryptocurrency+boss First result is article (FT pay wall workaround)

Quote:
An executive of a UK-registered cryptocurrency exchange kidnapped in Ukraine this week has been released after paying a ransom of more than $1m in bitcoins, according to an adviser to the Ukrainian interior minister, in a crime he dubbed “bitcoin kidnapping and extortion”.


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